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Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...
Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). T...
Income Tax : Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE withou...
Income Tax : Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are ex...
Income Tax : ITAT Mumbai ruled that additions under Section 69 cannot be sustained merely on suspicion when the entire property investment is s...
Income Tax : The Tribunal ruled that information from the Sales Tax Department and generic statements of alleged hawala dealers are insufficien...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Calcutta High Court has recently ruled that the issuance of notice and initiation of reassessment beyond six years is barred by limitation
ITAT Pune rules that fee for default in TDS statement under Section 234E of the Income Tax Act applies only after June 1, 2015.
Discover the step-by-step procedure to link your PAN and Aadhaar before the extended deadline of June 30, 2023. Learn how to check the linking status, make the applicable payment, and rectify common errors. Ensure compliance with the updated deadline and avoid any disruptions to your financial transactions.
Learn about the income tax system in India, including tax slabs and rates for individuals and companies. Discover how to file income tax returns, important due dates, and the consequences of non-compliance
Discover smart tax-saving strategies for a salary of 12 lakh per annum. Learn about Section 80C deductions, HRA benefits, NPS contributions, and more. Optimize your tax liability, maximize take-home income, and achieve financial goals with effective tax planning. Stay updated on tax laws, explore deductions for medical expenses and education, and keep records for a seamless tax filing process.
Unlock the intricacies of trusts with insights into types, creation, tax benefits to donors, and taxation. Understand the roles of authors, trustees, and beneficiaries. Explore the creation process, trust property, and its types—public trusts (charitable and religious) and private trusts (revocable, irrevocable discretionary, and irrevocable non-discretionary).
HC set aside SCN issued under Section 148A(b) & consequential orders on the grounds that the opportunity of being heard provided at first instance should be an effective opportunity, since, the power of reopening an assessment is a ‘power’ which should be exercised with adequate reason.
ITAT Hyderabad held that in absence of any substantial proceeding or collateral proceedings pending before AO, AO was right in not entertaining the application for rectification filed by the assessee.
ITAT Pune held that it is settled legal position that interest on (Non-Performing Assets) NPAs cannot be taxed on accrual basis.
ITAT Delhi held that conditions for the eligibility of claim u/s 80IC in the case of a new industrial undertaking stands satisfied as new firm acquired new plant & machinery which was not previously used.
